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Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
 With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed to stay above the 4,000 point mark, among the highest levels reached since the financial crisis back in late 2008, led to a collapse of the shipping markets as well. According to the latest Hellenic Shipping News poll, where a total of 4,605 votes were casted, China’s iron ore imports will continue to be the leading factor determining the course of rates.
A total of 1,707 of answers or 37.1% said that this will be the most important gauge for rates, as was the case in the previous years – and especially during 2009 – as well. An equally important 22.4% of votes or 1,031 in total said that newbuiling deliveries, directy affecting tonnage supply will be the main cause for altering the course of freight rates. With capesize deliveries during the first quarter of the year reaching record levels, many analysts remain cautious about the prospects of the market, especially during the second half of the year, when more deliveries have been scheduled.
Similarly, newbuilding cancellations will be the third most important factor according to the Hellenic Shipping News readers. A total of 13.9% or 638 voters claimed this very thing, as more cancellations could help alleviate future supply pressures, although that can’t be said for 2010, but more for 2011 going forward. The same alleviating consequences can derive from the scrapping of older dry bulk carriers, which was the fourth most important factor, accumulating 620 votes (13.5% of the total). So far this year, demolition activity for dry bulk vessels has remained quite low, as prices for second hand carriers began firming up. Still, scrap prices have exploded, which in turn has prompted scrapyards to increase their offers towards ship owners to near record levels. Despite these developments, most ship owners weren’t enticed and preferred to keep their older ships in service, at least as long as freight rates are at levels which sustain profitability to satisfactory levels.
Another factor (609 answers or 13.2%) which could keep rates at high levels is the rapid increase of coal imports from the powerhouse of India. The country has tremendous needs of electiricity producing coal, which could see this year’s imports increase to 100 million tons. As a result, many analysts expect the creation of another major dry bulk market for seaborne trade, after the emergence of China early in the decade.
During this month (June) we return to one of your favorite questions. We ask readers about the level of the BDI (Baltic Dry Index) during the second half of the year, proving a range of choices, from the pessimistic end to the more optimistic one. With many analysts doubting whether the market can sustain today’s high levels, it would be rather interesting to see what you think.
Finally, for those of you who will attend this year’s Posidonia Exhibition, don’t forget to stop by the Hellenic Shipping News Worldwide “Dry Bulk Forum”, scheduled for Thursday, 10th of June, from 10:45 am to 12:45 pm. Speakers include Mr. Dale Ploughman, CEO of Seanergy Maritime Holdings Corp., Mr. Dimitris Nenes, President and COO (Chief Operating Officer) of OceanFreight Inc., Mr. Christofer Thomas, Chief Financial Officer of Paragon Shipping Inc., Mr. Ted Petropoulos, head of Petrofin Research, Mr. George Xiradakis, CEO of XRTC Business Consultants and Mr. John Pachoulis, President of the Hellenic Shipbrokers Association.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- PTC India Limited - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
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